The world's largest economies, China and the United States are facing the most imminent economic and environmental challenges. This year, the two countries have shown real leadership in reaching a historic agreement to transition to low-carbon, climate-resilient economies, which will require businesses to do their part to drive decarbonization, and Honeywell is playing a leading role in this remarkable process.

Recently, Honeywell China reached an agreement with China Development Bank Capital (CDB Capital) to cooperate on pilot projects that help drive the country’s sustainable urbanization goals. With the support and assistance from the CEO Council for Sustainable Urbanization, an initiative launched by the Paulson Institute and the China Center for International Economic Exchanges (CCIEE), the two companies signed the memorandum of understanding (MOU) at the recent CEO Council annual event in Beijing.

“Through our efforts we can help build business ties between the U.S. and China – and contribute to solving environmental and sustainability challenges,” said Henry M. Paulson, Jr., chairman of the Paulson Institute..

According to the MOU, Honeywell will participate in CDB Capital’s sustainable urbanization development projects as its technology partner, providing green and smart solutions and products to selected pilot projects such as the Green Dragon Lake project in Beijing, the Sumin Village in Haikou, and other projects. This partnership, the first of its kind among the CEO Council members, is expected to further promote Sino-U.S. cooperation in sustainable urbanization pilot projects in China.

“Being green and smart is CDB Capital’s core objective to promote sustainable urbanization development nationwide,” said ZUO Kun, Vice President of CDB Capital. “Honeywell’s rich experience and world-leading technologies in smart grid, building automation and control, smart home and security and fire management will be highly valuable for our projects.”

“Joining hands with China Development Bank Capital to deploy Honeywell’s technologies gives us the pioneering advantage in implementing the best solutions to help resolve the pressing challenges facing China’s fast-growing urbanization development,” said Stephen SHANG, president and CEO of Honeywell China. “Our projects with CDB Capital will showcase our range of smart city solutions that can be widely applied in buildings, transportation, health care and homes to improve energy efficiency, security, productivity and comfort, as well as to reduce the consumption of resources and environmental impact.”

Honeywell is fully dedicated to invent and provide technologies that address some of the world’s most critical challenges around energy conservation, safety, security, productivity and urbanization. For example, more than 50 percent of the Honeywell portfolio is linked to energy efficiency. Its smart grid technology can balance energy’s supply and demand, thus reducing peak loads of electrical grid. In China, Honeywell has joined hands with the Tianjin Economic-Technological Development Area to successfully implement China’s first Smart Grid Demand Response demonstration project.

More than 10 million buildings worldwide have deployed Honeywell’s leading products and solutions in building controls, fire alarming systems, security systems and contract energy management. In China, Honeywell has provided customized smart system solutions to more than 5,000 commercial buildings and industrial sites over the past decade.